Longtime Slashdot reader schwit1 shares an opinion piece from the Washington Post, written by Virginia Governor Abigail Spanberger: NextEra Energy, a Florida-based utility company, has filed paperwork to buy Dominion Energy for about $67 billion, creating the largest regulated electric utility in the world. Virginia's State Corporation Commission is the regulatory body tasked with reviewing the application, and the SCC's commissioners will ultimately decide whether to approve, deny or impose new conditions on any potential merger.
As a Virginian, I am deeply skeptical about whether selling our primary state-regulated utility to an out-of-state company is good for the commonwealth. I have serious questions about what this deal would mean for us. And as governor, I intend to get answers and be a voice for Virginians in the process. That is why I will be taking the legal step of "intervening" in this proposed merger, which means that as governor, I will formally request to be a party to the case.
I know this action is unprecedented by a Virginia governor -- but so, too, is the size of this proposed merger and its potential impact on the commonwealth. Virginians deserve to know that their leaders are laser-focused on ensuring that their needs are part of the SCC review. "If two large corporations stand to benefit financially from this merger, so, too, should the Virginians who pay the bills," said Spanberger. "That is why any potential deal must deliver a more affordable energy bill with sustained, long-term energy cost savings."
By formally intervening in the merger review, Spanberger's administration would gain legal standing to participate directly in the case, request detailed information, raise concerns, and advocate for conditions that benefit people in the state. She says the goal is to push for lower long-term energy costs, protect utility jobs, and ensure any new owner continues investing in reliable, affordable and cleaner power.
Read more of this story at Slashdot.
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